Drain also gave Hostess the green light for the sale of its Wonder bread brand to Thomasville, GA-based Flowers Foods Inc. for $360 million and its Beefsteak bread brand to Mexico's Grupo Bimbo for $31.9 million.

At April 9 hearing, Hostess will also seek permission to proceed with the sale of its Sweetheart, Eddy's, Standish Farms and Grandma Emilie's bread brands, four bakeries and 14 depots to United States Bakery for approximately $30.9 million.